According to user reviews, PhonePe gives one of the fastest and safest UPI app experiences. You can make online bill payments, phone recharges, and money transfers.
Best 5 UPI Apps in India:
- PhonePe – UPI Payments, Recharges & Money Transfer. PhonePe stands first in our list of best UPI apps in India. ...
- Google Pay (Tez) – A simple and secure payment app. ...
- Paytm – BHIM UPI, Money Transfer & Mobile Recharge. ...
- Amazon Pay. ...
- BHIM App.
PayPal is our pick for best overall payment app. It offers a user-friendly interface, strong security, and there are no fees for sending money to family and friends.
The technology belongs to the UPI, but the overall payment software and experience are provided by the UPI. BHIM has been developed by NPCI as well and is the Government of India's own answer to the many UPI based payments apps that are available in the market today, such as Google Pay, Paytm, PhonePe and others.
“BHIM uses three-factor authentication and hence, is relatively more secure from a consumer point of view. It also combines the convenience of a mobile wallet with the security of net banking,” he said.
People who are new to the UPI payment system continue to be attracted by cashbacks and other offers. Agashe said the main reason for users shifting from BHIM to other apps is promotional offers. “Because there is a limitation to what NPCI can offer compared to others.
BHIM is developed by the National Payment Corporation of India (NPCI), a not-for-profit company for providing retail payment systems in the country under guidance from Reserve Bank of India.
PhonePe is the most feature rich app. It supports nearly all of the above features except Aadhar payments. BHIM app support many of the above features but does not support split payments, multiple VPAs and bill payments.
Yes, UPI payment is absolutely safe. All the mobile payment apps that support the UPI service, such as Paytm are obligated to follow the guidelines as set by the Reserve Bank of India. Thus, there is minimum risk involved in the UPI payment.
How safe is Google Pay? Google Pay protects your payment info with multiple layers of security, using one of the world's most advanced security infrastructures to help keep your account safe. When you pay in stores, Google Pay doesn't share your actual card number, so your information stays secure.
These payment apps are fast and user-friendly. But Google Pay is far more fast and convenient than Paytm. In Google Pay, when you to any merchant or person, the money directly gets deduct from your bank account. So you don't have to use your debit/credit card every time you do transactions.
BHIM app is comparatively slower than Google Pay. Google Pay is faster but PhonePe surpasses it. BHIM app has a unique feature which lets users make payments using Aadhar Card. You can use the beneficiary's Aadhaar number to make payments.
MyJio UPI service is highly secure platform where user data safety is our utmost priority. We follow all the necessary guidelines and have undertaken all the measures to make this digital payment platform safer for you.
Yes, it is absolutely safe to use UPI payment apps for money transactions. All that is required on the user's end is for him/her to be alert of the activities happening on his/her UPI account. Along with this, users must also not share their UPI ID and/or UPI PIN with anybody.
NPCI is an umbrella organisation for operating retail payments and settlement systems in India, it is an initiative of Reserve Bank of India (RBI) and Indian Banks' Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007, for creating a robust Payment and Settlement Infrastructure in ...
Pay and yono sbi are common app to transfer money or receive. But google pay is easy. Yono sbi you need use username and password. Also it has mpin.
In their study, cybersecurity researchers Noam Rotem and Ran Locar said exposure of BHIM user data is akin to a hacker gaining access to the entire data infrastructure of a bank, along with millions of its users' account information.
In terms of usage, Paytm is currently more reliable. Its servers seem more robust and there are fewer bugs. BHIM, on the other hand, is having some teething issues.
It will also be the first big win for a Made in India technology platform designed in India and owned by an Indian company. The Unified Payment Interface( UPI) has been termed as the “Most evolved, sophisticated public digital Payments infrastructure in the world “ by Fidelity's Annual Global Faster Payment Report.
You can use Google Pay to send money in the US, India, and Singapore.
Recently NPCI has launched BHIM UPI App in Singapore and it is in the process of launching it in different countries. India and China is far ahead in the world when it comes to digital innovation in financial sector. India and China are the only countries with large number of Unicorn Startups.